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Sovereign Debt and International Financial Control = The Middle East and the Balkans, 1870–1914 /

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Sovereign Debt and International Financial Control/ by Ali Co?kun Tunçer.
Reminder of title:	The Middle East and the Balkans, 1870–1914 /
Author:	Tunçer, Ali Co?kun.
Description:	XVII, 243 p.online resource. :
Contained By:	Springer Nature eBook
Subject:	Finance—History. -
Online resource:	https://doi.org/10.1057/9781137378545
ISBN:	9781137378545

Sovereign Debt and International Financial Control = The Middle East and the Balkans, 1870–1914 /
Tunçer, Ali Co?kun.

Sovereign Debt and International Financial ControlThe Middle East and the Balkans, 1870–1914 /[electronic resource] :by Ali Co?kun Tunçer. - 1st ed. 2015. - XVII, 243 p.online resource. - Palgrave Studies in the History of Finance,2662-5164. - Palgrave Studies in the History of Finance,.

This book revisits an important chapter of financial history in the Middle East and the Balkans from 1870 1914. During this period, capital flows in the form of sovereign debt increased rapidly throughout the region. The spiral of heavy government borrowing eventually culminated in defaults on foreign obligations in the Ottoman Empire (1875), Egypt (1876), Greece (1893) and Serbia (1895). In all four cases, introducing international financial control over the finances of the debtor states became the prevalent form of dealing with defaults. The different cases of international financial control became increasingly refined and they marked important milestones in the evolution of the global governance of sovereign debt before 1914. For the defaulting states however, the immediate impact of international financial control was infringement of sovereignty. The extent of international financial control and the borrowing capacity of debtor states varied in each case as well as the degree of resistance towards it. This book documents the characteristics of international financial control in a comparative perspective. It relates sovereign debt, default and international financial control to political and fiscal systems, and raises questions about the tension between national sovereignty and global capital. It sheds light on the impact of international financial control on the long-term credibility and fiscal capacity of the debtor states in question. The author demonstrates that the governments' decisions to borrow internationally, and their attitudes towards international financial control, were heavily influenced by domestic political and fiscal factors.

ISBN: 9781137378545

Standard No.: 10.1057/9781137378545doiSubjects--Topical Terms:

1255918
Finance—History.

LC Class. No.: HG171

Dewey Class. No.: 332.09

Sovereign Debt and International Financial Control = The Middle East and the Balkans, 1870–1914 /
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